Company Registration Services in Oman
Oman has emerged as a leading country, surpassing business laws and a welcoming environment. There are Business Opportunities in Oman ranging from estate to taxation and accounting.
Over the years, Oman has become the choice for international investors. As the nation in the Gulf Cooperation Council (GCC) after Saudi Arabia, Oman offers an ideal location for company registration due to its abundant natural resources, historical significance as a trade hub, and accessibility.
Are you seeking guidance on a Company Registration in Oman? Keep reading to gather all the information for operating a business in this country before you establish your presence here.
Jurisdictions for an Oman Company Formation
You can choose from the following jurisdictions and pay the Oman Company Registration Fee to start your business in the country:
- Free Zone.
An Oman Company Registration Costs around OMR 3,750* (starting price) for the mainland. An Oman Free Zone Company Setup Cost would also be easy on your pockets.
*The cost may vary depending on your customized requirements. Kindly get in touch with us to confirm this.
Business Structures That Can Be Used for a Company Setup in Oman
The following business structures can be used for a Company Setup in Oman:
LLC: Limited Liability Company
Two to fifty people work for this type of Company. This type of entity's liability is constrained to a specific sum.
If the regulatory body's consent is necessary for this Company in any way, it must be obtained.
A joint venture business in Oman is not required to have minimum capital. If it is for a specific duration or project, an applicant seeking business registration in Oman may use the abovementioned structure.
Joint Stock Businesses
These businesses are established with the bare minimum of funding. Shares of Joint Stock Companies may be made available to the general public.
A Holding Company would exercise some substantial control over its sister companies and its subsidiaries. Over the subsidiary companies, there would be more than 51% control.
A branch office is only an overseas parent company's extension. These businesses are capable of producing money.
A representative office is merely an addition to the overseas parent firm, much like a branch office is. The representative office is not allowed to engage in any profitable endeavors.
The representative office is limited to tasks that advance the marketing and foreign parent firm.
Note the Necessities for a Business Setup in Oman
A person seeking a Business Setup in Oman must complete the steps below:
Appoint the Directors and Choose the Shareholders
For a firm, a minimum number of shareholders must be chosen, with at least one director appointed.
Reservation of Name
The MOCI must hold the name in reserve. The name must accurately describe the kind of activities it engages in.
The name must adhere to the MOCI's guidelines. The name must not mislead the public and shareholders.
Decide on the Business Activity
First and foremost, the applicant must decide what tasks the Company will perform. The applicant would need permission from the Ministry of Commerce and Investment to conduct banking and insurance activities.
Obtaining a Business Licence
A business license from the MOCI (Ministry of Commerce and Industry) is required before a company can operate. The MOCI offers different types of licenses for conducting business in Oman.
However, the specific license must be obtained depending on the applicant's requirements.
Acquire Your Incorporation Certificate
After completing the abovementioned stages, the applicant will get a certificate of incorporation.
Compliances Needed for Setting Up a Business in Oman
The following requirements are mandatory for Setting Up a Business in Oman:
All businesses must register with the Ministry of Finance to submit corporate taxes.
Tax on Small Businesses
If a company's approved share capital does not exceed OMR 50,000, it is only necessary for SMEs and other companies to pay a 3% corporation tax.
Any modifications to the LLC must be reported to the Ministry of Commerce and Investment.
Annual Meeting of the Whole
Every year, an annual general meeting must be convened.
Consult our experts today for more information regarding your Company Registration in Oman.
Who Can Proceed with a Company Registration in Oman?
Oman can be an attractive choice for individuals or companies looking to establish their businesses for various reasons. Here are some groups that may consider choosing Oman for company formation;
Omani nationals benefit from a supportive business environment, local market access, and familiarity with regulations and customs.
Expanding into the Middle East, Oman offers a strategic location, stable politics, favorable investment policies, and growing market opportunities.
Oman's liberal investment policies and potential for high returns attract investors seeking portfolio diversification and new markets.
Oman's diversification efforts open opportunities in oil and gas, tourism, logistics, manufacturing, renewable energy, and mining.
Startups & Small Businesses
Oman fosters innovation and entrepreneurship, with incubators, funding, and skilled talent availability supporting emerging companies.
Procedure to Setup a Company in Oman
Setting up a company in Oman involves several steps and procedures, which can seem overwhelming. However, the process can be streamlined and successful with careful planning and adherence to the requirements. Here is a comprehensive overview of the process involved in setting up a company in Oman:
Decide on the business structure you want to establish - sole proprietorship, partnership, LLC, joint stock company, or foreign branch.
Choose a company name that complies with Oman's Ministry of Commerce and Industry guidelines.
Determine minimum capital based on the chosen business structure and activity.
Obtain a local sponsor (Omani national or company) holding at least 30% of shares.
Obtain necessary approvals from relevant authorities (e.g., Ministry of Commerce and Industry, Ministry of Manpower, Municipality) based on your business nature.
Find suitable commercial space and comply with location-specific requirements.
- Copy of Commercial Registration Certificate (e.g., Articles of Association, Memorandum of Association, contracts) from the Ministry of Commerce and Industry.
- Copy of Specimen Signature Form.
- Original Authority to Clear Transactions Form.
- Copy of ID card or passport of all company owners.
Submit required documents to the Ministry of Commerce and Industry for company registration along with a copy of the Confirmation of Registration Printout (from the Ministry of Commerce and Industry)
Upon approval, receive a commercial registration certificate, officially establishing your company.
Register your company with the Oman Tax Authority and obtain a taxpayer identification number (TIN).
Open a corporate bank account in Oman for smooth business transactions.
Required Documents for Company Registration in Oman
Why Choose Gryffin Capitalist to Incorporate a company in Oman?
Seeking professional guidance from legal and business experts is highly recommended to ensure a smooth company formation and registration process in Oman. Here is Gryffin Capitalist to help you through the process. Contact us anytime our experts will always be available to assist you.
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